|Bid||21.84 x 300|
|Ask||21.86 x 300|
|Day's range||21.08 - 21.96|
|52-week range||17.05 - 26.72|
|PE ratio (TTM)||46.80|
|Earnings date||20 Jun 2018 - 25 Jun 2018|
|Forward dividend & yield||0.48 (2.36%)|
|1y target est||25.80|
The construction sector is the largest steel consumer in China. Although we don’t get many indicators of China’s construction activity in the first two months of the year, some of the indicators show moderation in China’s real estate sector. For instance, new home prices rose in 44 of 70 cities in February, compared to 52 cities in January, according to the National Bureau of Statistics of China.
The Irving, Texas-based company said it had net income of 9 cents per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share. The results met Wall Street expectations. The average ...
Shares of Commercial Metals Co. sank 3.4% in premarket trade Thursday, after the steel maker reported fiscal second-quarter profit and sales that missed expectations. Net income for the quarter to Feb. ...
Seasonal demand pick-up coupled with high lead times have positively impacted flat-rolled steel prices. It’s also worth noting that U.S. Steel (X) and AK Steel (AKS) took some of their flat-rolled capacity offline in 2015 in response to falling spot steel prices. Rebar prices have underperformed HRC (hot rolled coil) recently.
On the 4Q17 earnings call, ArcelorMittal’s (MT) CEO, Lakshmi Mittal, outlined a new capital allocation strategy. According to Mittal, “Mostly, we will continue to prioritize deleveraging, we believe that a net debt level of $6 billion with an appropriate target to sustain investment-grade rating metrics and support positive free cash flow even in the low point on the cycle. A few years back, ArcelorMittal set itself a medium-term net debt target of $15 billion.
As we discussed previously, ArcelorMittal (MT) has submitted its bid for Essar Steel. The acquisition, if completed, will provide ArcelorMittal with a strong platform in India. Notably, ArcelorMittal doesn’t have a major presence in India.
U.S. Steel Corporation: Should You Be Greedy or Fearful? As we noted previously, the near-term macro environment looks decent for steel companies like Nucor (NUE) and ArcelorMittal (MT). In this part, we’ll see how U.S. Steel Corporation (X) is trying to address some of its legacy issues.
The construction sector, which includes both residential and nonresidential construction, is the largest end steel consumer. In this article, we’ll look at some of the sector’s leading indicators, which may help us understand how its steel demand (X) could play out this year. Building permits and housing starts are seen as key indicators of residential construction activity.
Commercial Metals (CMC) could be an interesting play for investors as it is seeing solid activity on the earnings estimate revision, along with decent short-term momentum.
A Relative Strength Rating upgrade for Commercial Metals shows improving technical performance.
The shares of Commercial Metals (CMC) rose after the company entered into a definitive agreement to acquire certain U.S. rebars steel mill and fabrication assets from Gerdau S.A.
On a per-share basis, the Irving, Texas-based company said it had profit of 31 cents. Earnings, adjusted for pretax gains, were 30 cents per share. The results topped Wall Street expectations. The average ...
A Relative Strength Rating upgrade for Commercial Metals shows improving technical performance. Will it continue?